At the March 14 meeting of the Board of Directors, the Board was updated on the
Request for Expression of Interest for the Brookley property. The Request seeks
interested developer/investors to propose possible development opportunities for this
largest developable property on the western shore of Mobile Bay. The responses
will provide the Foundation with approaches for the stages of development of the
property taking into consideration the principles and objectives that have been
approved for the property. The Expression of Interest was mailed to developers
in mid-March, and the responses are due on May 22, 2013. A Board advisory
committee was appointed to work through the evaluation process. The members are
Mr. Lowell Bonds, Chair, Ms. Verla Ledlow Wilters, Mr. Tommy Zoghby, and Dr.
Allan Tucker.

The development of Brookley is guided by the objectives and principles adopted by
the Board of Directors:

Objectives include:

• Generating a return on the Foundation’s investment;
  
• Developing the property in ways that will reflect positively on the USA
  Foundation and the University of South Alabama;
  
• Contributing to the economic development of the region;
  
• Minimizing the Foundation’s future capital outlay;
  
• Capitalizing on the unique qualities and assets of the Brookley site; and
  
• Preserving and continuing the positive relationships that the Foundation
  enjoys with the local stakeholders, including the University of South
  Alabama, the City of Mobile, the Mobile Airport Authority, the Chamber
  of Commerce and others.

Principles include:

• Creating a unique product in the marketplace that has regional appeal;
• Preserving and capitalizing on the property’s environmental aspects;
• Developing the property in ways that will allow for a variety of building types and thus maximize market penetration;
• Creating an efficient and flexible development framework; and
• Creating a sense of place on the site to be environmentally appealing.